Google has updated its Gemini API to enhance deep research capabilities and add support for MCP, according to CoinDesk. This update is expected to improve Google's standing in the competitive AI model market, with traders anticipating a potential rise in Google's position on the LMSYS leaderboard. The market for top AI models has seen a 9.5-point increase over the past week, reflecting optimism about Google's advancements. Despite these improvements, the market still favors OpenAI and xAI as more likely leaders, with a 30% probability of Google's success. The recent changes to the Gemini API, which align with Google's April 2026 API updates, could influence short-term perceptions of its ranking relative to competitors like GPT and Grok. As the AI landscape evolves, further announcements from key figures like Demis Hassabis or Sundar Pichai, as well as upcoming AI conferences, may impact market dynamics and contract repricing.